Posted by aionol | 03 FEB 2018

Overcoming Barriers to Digital Transformation for C-Level Executives: #5.2 Regulatory Constraints

It is of no surprise that security concerns and regulatory constraints have ended up together on the list of the top five barriers to digital transformation. It makes sense: when there are significant security concerns regarding sensitive data, and the impact of the damage can be disastrous, regulators are expected to step in. And regulation […]

It is of no surprise that security concerns and regulatory constraints have ended up together on the list of the top five barriers to digital transformation. It makes sense: when there are significant security concerns regarding sensitive data, and the impact of the damage can be disastrous, regulators are expected to step in.

And regulation has two sides to it. On the one side, it is supposed to protect people from malicious practices, and on the other side it puts limits on businesses and other actors in the space. So how can you overcome this barrier to technological transformation without getting on the bad side of the law?

One recent example of a regulation that might pose a barrier to digital transformation is the GDPR. So what should businesses do?

Step 1: Understand how regulations affect your business

It is first and foremost important to understand what the consequences of cloud computing regulations are on for your business. You might not be affected. Worse, you might be failing to comply without even knowing. The best thing you can do is inform yourself. For example, non-EU businesses also need to know about the new GDPR regulations, as it is likely to affect them, too.

Overcoming Barriers to Digital Transformation for C-Level Executives

Overcoming Barriers to Digital Transformation for C-Level Executives

Step 2: Take Action Early On

Waiting won’t make the regulation go away. Compliance is a big task. But once it’s done, it is – with regular check ups and the right systems in place – easy to maintain. Your business will suffer both when you withhold from digital transformation (as the competition will get ahead of you no matter what) and if you’re not acting to comply from the start. So act now. Here are 4 steps you can take to prepare for the GDPR.

Step 3: Turn Regulation into an Opportunity

This sounds counterintuitive, but this is what the most innovative businesses do. Rather than complaining about the regulation and laying off compliance measures, they get on with the task and turn it into something valuable. Read here how you can turn the new GDPR regulation into an opportunity that will help your business.

Regulation is an important part of digital transformation, as new technologies push into unknown territory. Make sure you don’t let it get in the path of your business transformation. Ask Iono Inc how you can make your business compliant today.

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